While globalization has benefited consumer and commercial establishments for thousands of years, it has begun to slow down in recent years, facing increased backlash as supply chains experience various kinds of disruption. COVID-19, tariffs, geopolitical tensions, government-driven financial incentives, narrow cost spreads with developing regions, and increasing demands for just-in-time (JIT) deliveries have all contributed to contracting supply chains, which we believe to be accelerating and secular in nature. As 2024 gets underway, global supply chains are facing a new hurdle, as tensions in the Red Sea have caused ... (full story)